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The headline and core inflation climbed down in July, a second consecutive month, easing the concerns surrounding rising oil prices.

The former decreased from 6.3% y/y in June, to 5.6% y/y in July, while the decrease in the latter is less pronounced, from 6.1% y/y to 5.9% y/y over the same period. Food and fuel constitute the largest part of the inflationary basket and hence, a decrease across both segments has aided a decrease in overall inflation.

Consumer price inflation pertaining to fuel and light decreased marginally from 12.6% y/y in June, to 12.4% y/y in July, while that for food prices eased by 1.1 pp to 4.5% y/y in July.

Source: Central Statistics Office, CEIC

Further data and analysis on India’s economy are available on the CEIC India Economy in a Snapshot – Q2 2021 report.